First Home Buyers

Buying your first home is likely to be one of the largest purchases you'll make. In Australia, First Home Buyers can take advantage of the current market conditions as well as generous Government Incentives (including the first home owner grant) to get on the property ladder.

We've worked with clients across Australia to access the different first home owner grants (FHOG) as well as the various stamp duty and other concessions that may be available depending on which state you are in. We can talk you through your various options as well as helping you compare things like buying vacant land vs. an established home. You may also be eligible for the Home Guarantee Scheme which can make a big difference in the type of property you may be able to purchase.

Understanding the process to buying your first home is critical as well as understanding how much you can borrow and how much you should borrow. We've been supporting First Home Buyers through the purchasing process for years and can help guide you through purchasing your first home.

We're a proud member of the Mortgage and Finance Association of Australia and can help First Home Buyers right across Australia. If you're looking to buy your first home, we have the expertise and experience to guide you through the process and make the right choice.

Step 1: Initial Meeting

Your property journey begins with an in-depth conversation with your Finance & Mortgage Broker. Whether you’re purchasing your first property, investing in real estate, or looking to refinance, your broker will take time to understand your property goals, financial situation, and any special conditions that may apply. This is when you'll discuss your borrowing capacity and explore loan options from a variety of banks and lenders across Australia. Your broker will also walk you through interest rates, LVR, and any possible LMI that may come into play.

Step 2: Financial Check

The next step involves your broker conducting a thorough evaluation of your financial position. This includes reviewing your income, bank statements, assets, liabilities, credit history, and savings. Your broker will then calculate your borrowing capacity, helping you understand how much you can afford to borrow and how much your monthly repayments might be. Your broker will also assess whether you qualify for any interest rate discounts or government schemes, like first-home buyer grants.

Step 3: Loan Selection

Based on your financial situation, your broker will research and present a list of loan options from a variety of lenders. These loans will be tailored to meet your needs and goals, whether you’re looking for a fixed interest rate loan, variable loan rates, or a more flexible loan that offers an offset account. Your broker will also explain the loan-to-value ratio (LVR) and help you weigh the pros and cons of each loan option, ensuring you’re making an informed decision.

Step 4: Pre-Approval

Getting pre-approved for a loan gives you a clear understanding of your budget and strengthens your negotiating position when bidding for a property. Your broker will help you through this process, ensuring all necessary documents, including tax returns, pay slips, and bank statements, are submitted to the lender. Pre-approval also gives you confidence to act quickly in the local property market and avoid the risk of missing out on your desired property.

Step 5: Application Submission

Once you’ve selected the right loan, your broker will manage the application process for you. They will submit your application to the lender and ensure that all required documents are provided. This may include additional paperwork such as proof of assets, liabilities, and other relevant financial information. Your broker will handle communication with the lender, addressing any questions they may have and ensuring a smooth, streamlined application process.

Step 6: Loan Approval & Settlement

After your loan is approved, your broker will assist in reviewing the final loan agreement, ensuring that all terms, including interest rate, fees, and repayment schedules, are understood. They will also help set up your repayment structure and help arrange any necessary insurance, such as home loan protection. Once settlement is confirmed, your property ownership is officially complete, and you’ll receive access to the property.

Step 7: Ongoing Support

Once your loan is settled, your Finance & Mortgage Broker remains available for ongoing support. This may include advising on managing your loan repayments, exploring the possibility of refinancing, or helping you tap into your home equity for future property purchases. Your broker’s role doesn’t end at settlement—they’ll be there to guide you through the entirety of your property ownership journey.